Ceramic Fuel Cells Ltd
(ASX:CFU) says it has secured a $6.6 million order for up to 200 of its energy saving products to one of Germany’s largest utilities, EWE.
The conditional order was received in December 2010 and will see Ceramic Fuel Cells deliver integrated units using its patented technology to convert natural gas into electricity, hot water and space heating.
In an update to the market the company reports that it ended last year with cash of $29.8 million, while net operating cash outflow was $6.2 million in the December quarter.
Ceramic Fuel Cells has also announced that it has struck a deal with Adelaide-based Hills Holdings Ltd (ASX:HIL) to sell and service the company’s BlueGen gas to electricity units.
Under the agreement home hardware company Hills will distribute BlueGen and provide installation and after sales service, as well as working with Ceramic Fuel Cells to develop the market for BlueGen.
While the value of the deal has not been disclosed, managing director Brendan Dow says it provides long term strategic opportunities to collaborate with Hills on the BlueGen manufacturing and supply-chain side.
In the year to 30 June 2010, Ceramic Fuel Cells posted a net loss of $19.65 million.
